Global Retail Undervalued over 20% based on DCF

Victoria's Secret

Market Cap: US$1.6b

Operates as a specialty retailer of women’s intimate, and other apparel and beauty products worldwide.

Izumi

Market Cap: JP¥234.4b

Operates general merchandise stores in Japan.

Europris

Market Cap: NOK 15.8b

Operates as a discount variety retailer in Norway.

ABOUT YOU Holding

Market Cap: €1.2b

ABOUT YOU Holding SE retails lifestyle and fashion products for women, men, babies, girls, and boys.

Pets at Home Group

Market Cap: UK£1.0b

Engages in the omnichannel retailing of pet food, pet related products, and pet accessories in the United Kingdom.

DCM Holdings

Market Cap: JP¥196.0b

Engages in the home improvement and e-commerce businesses in Japan.

Chengdu Fusen Noble-House IndustrialLtd

Market Cap: CN¥9.0b

Chengdu Fusen Noble-House Industrial Co.,Ltd.

Sally Beauty Holdings

Market Cap: US$1.2b

Operates as a specialty retailer and distributor of professional beauty supplies.

Rusta

Market Cap: SEK 11.3b

Rusta AB (publ) retails home and leisure products in Sweden, Norway, Finland, and Germany.

LuxExperience B.V

Market Cap: US$1.1b

Through its subsidiary, operates an online shopping platform in Germany, the United States, rest of Europe, and internationally.

Dogus Otomotiv Servis ve Ticaret

Market Cap: ₺43.0b

Operates as an automotive importer and distributor in Turkey.

AOKI Holdings

Market Cap: JP¥149.8b

Engages in the fashion, anniversary and bridal, entertainment, and real estate rental businesses in Japan.

Hour Glass

Market Cap: S$1.3b

An investment holding company, engages in the retailing and distribution of watches, jewellry, and other luxury products in Singapore, Hong Kong, Japan, Australia, New Zealand, Malaysia, Thailand, and Vietnam.

Magazine Luiza

Market Cap: R$5.5b

Engages in the retail sale of consumer goods.

Zinzino

Market Cap: SEK 9.2b

A direct sales company, provides dietary supplements and skincare products in Sweden and internationally.

Adastria

Market Cap: JP¥139.7b

Plans, produces, and retails clothes and sundry goods in Japan.

Moonpig Group

Market Cap: UK£690.0m

Operates as a data and technology platform for online greeting cards and gifting in the Netherlands, Ireland, Australia, the United States, and the United Kingdom.

Hangzhou Jiebai Group

Market Cap: CN¥5.7b

Engages in the operation of department stores and shopping malls in China.

Briscoe Group

Market Cap: NZ$1.3b

Engages in retailing homeware and sporting products in New Zealand.

Arclands

Market Cap: JP¥112.3b

Engages in the retail business in Japan.

ATRenew

Market Cap: US$761.5m

Operates pre-owned consumer electronics transactions and services platform in the People’s Republic of China.

Wilcon Depot

Market Cap: ₱41.4b

Wilcon Depot, Inc., doing business as WILCON DEPOT and WILCON HOME ESSENTIALS, operates as a home improvement and construction supplies retailer in the Philippines.

Central Automotive Products

Market Cap: JP¥105.1b

Engages in the development, import and export, and sale of automotive parts and related services.

Wickes Group

Market Cap: UK£520.6m

Operates as a retailer of home improvement products and services in the United Kingdom.

AO World

Market Cap: UK£507.1m

Engages in the online retailing of domestic appliances and ancillary services in the United Kingdom and Germany.

Build-A-Bear Workshop

Market Cap: US$668.1m

Operates as a multi-channel retailer of plush animals and related products in the United States, Canada, the United Kingdom, Ireland, and internationally.

Italtile

Market Cap: R11.5b

Manufactures, retails, and franchises tiles, bathroom ware, and related home-finishing products in South Africa, rest of Africa, and Australia.

THG

Market Cap: UK£463.7m

Operates as an online retailer in the United Kingdom, the United States, Europe, and internationally.

Kid

Market Cap: NOK 6.2b

Operates as a home textile retailer in Norway, Sweden, Finland, and Estonia.

Boozt

Market Cap: SEK 5.8b

Sells fashion, apparel, shoes, accessories, kids, home, sports, and beauty products online.

Organización Terpel

Market Cap: Col$2.4t

Operates fuel service stations in Colombia, Panama, Ecuador, Peru, and the Dominican Republic.

M.video

Market Cap: ₽36.0b

Public Joint Stock Company M.video, together with its subsidiaries, operates a chain of household appliances and consumer electronics stores, and online stores in the Russian Federation.

mobilezone holding ag

Market Cap: CHF 478.2m

Provides mobile and fixed-line telephony, television, and Internet services for various network operators in Germany and Switzerland.

ODP

Market Cap: US$577.9m

Provides business products, services and supplies, and digital workplace technology solutions to small, medium, and enterprise-level businesses in the United States, Puerto Rico, the U.S.

BuySell TechnologiesLtd

Market Cap: JP¥84.8b

Engages in the kimono/branded goods reuse business in Japan.

SMCP

Market Cap: €477.5m

Operates as a ready-to-wear and accessories retail company in France and internationally.